v3.25.1
Consolidated Statements of Operations and Comprehensive Income (Unaudited) - KRG, LP - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenue:    
Rental income $ 219,172 $ 205,813
Total revenue 221,762 207,439
Expenses:    
Property operating 29,826 28,081
Real estate taxes 27,761 26,534
General, administrative and other 12,258 12,784
Depreciation and amortization 98,231 100,379
Total expenses 168,076 167,778
Gain (loss) on sales of operating properties, net 91 (236)
Operating income 53,777 39,425
Interest expense (32,954) (30,364)
Income tax expense of taxable REIT subsidiaries (10) (158)
Equity in loss of unconsolidated subsidiaries (607) (420)
Gain on sale of unconsolidated property, net 0 2,325
Other income, net 4,058 3,628
Net income 24,264 14,436
Net income attributable to noncontrolling interests (534) (280)
Net income attributable to common shareholders $ 23,730 $ 14,156
Net income per common share    
Net income per common unit – basic (in USD per share) $ 0.11 $ 0.06
Net income per common unit – diluted (in USD per share) $ 0.11 $ 0.06
Weighted average common units outstanding – basic (in shares) 219,715,674 219,501,114
Weighted average common units outstanding – diluted (in shares) 219,827,298 219,900,306
Net income $ 24,264 $ 14,436
Change in fair value of derivatives (4,280) 2,542
Total comprehensive income 19,984 16,978
Comprehensive income attributable to noncontrolling interests (559) (365)
Comprehensive income attributable to the Company 19,425 16,613
Other property-related revenue    
Revenue:    
Other revenue 2,165 1,311
Fee income    
Revenue:    
Other revenue 425 315
Kite Realty Group, L.P.    
Revenue:    
Rental income 219,172 205,813
Total revenue 221,762 207,439
Expenses:    
Property operating 29,826 28,081
Real estate taxes 27,761 26,534
General, administrative and other 12,258 12,784
Depreciation and amortization 98,231 100,379
Total expenses 168,076 167,778
Gain (loss) on sales of operating properties, net 91 (236)
Operating income 53,777 39,425
Interest expense (32,954) (30,364)
Income tax expense of taxable REIT subsidiaries (10) (158)
Equity in loss of unconsolidated subsidiaries (607) (420)
Gain on sale of unconsolidated property, net 0 2,325
Other income, net 4,058 3,628
Net income 24,264 14,436
Net income attributable to noncontrolling interests (70) (67)
Net income attributable to common shareholders 24,194 14,369
Allocation of net income:    
Limited Partners 464 213
Parent Company $ 23,730 $ 14,156
Net income per common share    
Net income per common unit – basic (in USD per share) $ 0.11 $ 0.06
Net income per common unit – diluted (in USD per share) $ 0.11 $ 0.06
Weighted average common units outstanding – basic (in shares) 224,214,867 223,109,983
Weighted average common units outstanding – diluted (in shares) 224,326,491 223,509,175
Net income $ 24,264 $ 14,436
Change in fair value of derivatives (4,280) 2,542
Total comprehensive income 19,984 16,978
Comprehensive income attributable to noncontrolling interests (70) (67)
Comprehensive income attributable to the Company 19,914 16,911
Kite Realty Group, L.P. | Other property-related revenue    
Revenue:    
Other revenue 2,165 1,311
Kite Realty Group, L.P. | Fee income    
Revenue:    
Other revenue $ 425 $ 315